Chapter 4: HOMEWORK PROBLEM: Prince Corporation acquired 100 percent of Sword Corporation on January 1, 2018, for $203,000. Following are selected account balances from Prince and Sword Corporations as of December 31, 2018: Prince Corporation : Sword Company Debit Credit Item Debit . Credit $ 25,000 55,000 100,000 20,000 150,000 Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Sword Company. .. Cost of Goods Sold Depreciation Expense . Other Expenses Dividends Declared Accumulated Depreciation. Accounts Payable Mortgages Payable Common Stock Retainted Earnings Sales Income from Sword Company 82,000 50,000 170,000 80,000 500,000 240,000 500,000 25,000 .:75,000 50,000 250,000 15,000. 75,000 20,000 $ 155,000 70,000 200,000 300,000 290,000 700,000. 57,000 $1,772,000 $ 75,000 35,000 50,000 50,000 100,000 400,000 $1,772,000 $710,000 $710,000 Additional Information: 1. On January 1, 2018 the fair market value of Sword's assets equaled their book value with the exception of a. Buildings and Equipment (with an estimated economic life of 11 years) had a fair value that exceeded the book value by $22,000. b. The fair value of the Inventory exceeded the book value by $1,000. The fair value of the Land exceeded the book value by $10,000.. At December 31, 2018, assume that Goodwill, if any, was determined to not be impaired. 3. Prince used the equity-method in accounting for its investment in Sword. 4. Detailed analysis of receivables and payables showed that Sword owed Prince $16,000 on December 31, 2018 , Instructions: a. Give all journal entries recorded by Prince with regard to its investment in Sword during 2018. b. Give all consolidating entries needed to prepare a full set of consolidated financial statements for 2018. c. Prepare a three-part worksheet as of December 31, 2018. d. Determine Total Stockholders' Equity at December 31, 2018. e. Determine Buildings and Equipment, Net at December 31, 2018